My topic encompasses cyber risks, such as flash loans attacks, exit scams, and honeypots, affecting cryptocurrency exchanges and tokens. I plan to analyze and compare media sentiment with public sentiment pertaining to their respective confidence in crypto exchanges (security-wise). I do not wish to shed light on any financial aspects of crypto, such as price volatility, market share, etc. I hope to gather my textual data through APIs and web-scraping. For APIs, I shall use the R Twitter API and Reddit API (pushshift) through Python. For web-scraping, I shall depend on RSS feeds of news channels, probably foxnews, nbcnews, and abcnews, to scrape their articles using beautiful soup. My principal model may compare sentiments of the media vs the public concerning the topic of crypto cyber risk.
Bitconnect scam of $2.5 billion -> victimized over 1.5 million ppl. Modern theft and fraud -> digital tech and connectivity as a double edged sword -> scope and economies of scale of swindling a collective group of ppl. Law enforcement -> improving as arrests are increasing all over the world and, hence, recover billions of dollars from criminals. Cyber criminals on the rise due to increasing crypto market cap by more than 3 fold each year since 2019. Willie Sutton Principle -> value of crypto increasing which means increasing risk of criminals -> therefore, very lucrative for hackers.
While the world is likely still some years away from the widespread adoption of this approach – or even use at the consumer level – central bank digital currencies will likely feature prominently in future cross-border transactions, and consequently render most payment processors and messaging systems, like SWIFT, obsolete.
Regardless, cryptocurrencies’ promises of egalitarian finance have so far proven only magnets for criminal enterprise, high-risk investors, and rogue regimes – and quickly devolved into what may eventually turn out to be history’s biggest pyramid scheme.
Value of cryptocurrency theft worldwide from 2019 to Present(in trillion U.S. dollars:
Relatively new field of research, google scholar:
A Multi-Classifier Network-Based Crypto Ransomware Detection System
Differing sentiments within the media and public about crypto security in the long-term.
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